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Implementation of the Dodd-Frank Wall Street Reform Looms
The ink is barely dry from President Obama’s signature enacting H.R. 4173, the Dodd-Frank Wall Street Reform and Consumer Protection Act, but those in Washington are already talking about the avalanche of new work that has been created for the executive branch. It has been estimated that the Dodd-Frank Act will require federal agencies to develop 520 new rules, conduct 81 congressional studies, and issue 93 reports. (Posted: 8/17/2010)
For the last three months the Senate Finance Committee has been unsuccessfully working on crafting a legislative package aimed at aiding small businesses. From the outset, NAMIC has been working to include a tax provision that would help small property/casualty insurers and we were able to garner a significant amount of support from both Democrats and Republicans on the committee. However, as the debate has continued, political concerns have loomed large and the future of the small business incentive package – with or without our provision – is now in question. (Posted: 8/3/2010)
NAMIC TRIA Task Force Submits Comments on Terrorism Insurance to Treasury
Yesterday, NAMIC, on behalf of its TRIA Task Force, submitted comments to the U.S. Treasury Department. The Treasury department, as the acting chair of the President’s Working Group on Financial Markets, was seeking comments on the long-term availability and affordability of terrorism risk insurance. As part of the reauthorization of the Terrorism Risk Insurance Act, the Working Group was instructed to conduct an on-going analysis and is required to submit a report to Congress later this year. (Posted: 8/3/2010)
Florida: NAMIC Testifies on Adjuster Rule Revisions
Liz Reynolds, NAMIC Southeast state affairs manager, testified Friday during a hearing on the Department of Financial Services Division of Insurance Agents and Agency Services’ proposed rule revisions: (Posted: 8/3/2010)
Congress Passes Landmark Regulatory Reform Legislation
Following House passage the week before the July 4th recess, on July 16, the Senate passed the final financial services regulatory overhaul legislation by a vote of 60-39. This is the culmination of a process that began in September 2008 as the country’s largest financial firms began to fail and Washington sought to deal with the crisis. (Posted: 7/20/2010)
NAMIC CEO Comments on Dodd-Frank Financial Reform Legislation Approval by Senate
The National Association of Mutual Insurance Companies (NAMIC) responded to today’s passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act by the Senate. (Posted: 7/15/2010)
Wall Street Reform Legislation to Include Surplus Lines
The Dodd-Frank Wall Street Reform and Consumer Protection Act that passed the House last Wednesday, June 30, contained a provision that would reform the regulation of surplus lines. (Posted: 7/6/2010)
National Flood Insurance Program Reauthorized
The National Flood Insurance Program lapsed at midnight on May 31, 2010, and the program was on a hiatus for the month of June, during which companies were not permitted to write new policies, issue increased coverage on existing policies, or issue renewal policies. (Posted: 7/6/2010)
NAMIC Applauds Senate Approval of NFIP Extension
The National Association of Mutual Insurance Companies (NAMIC) welcomed Senate approval of legislation reauthorizing the National Flood Insurance Program through September passed by the House last week. (Posted: 7/1/2010)
NAMIC Responds to Removal of Fee from Financial Reform Legislation
The National Association of Mutual Insurance Companies (NAMIC) praised the removal of a so-called “bank tax” from the Dodd-Frank Wall Street Reform and Consumer Protection Act by the conference committee. (Posted: 6/30/2010)
Conference Committee Agrees to Landmark Regulatory Reform Legislation (6/29/2010)
NAMIC Reconvenes TRIA Task Force as Treasury Seeks Terrorism Insurance Comments (6/22/2010)
Congressional Conference Committee Continues Work on Reshaping Financial Services Regulation (6/22/2010)
Continuing Oil Leak in the Gulf Threatens to Alter Legislative Agenda (6/22/2010)
Tax Extenders Bill Dominates Senate Schedule This Week (6/15/2010)
Financial Services Regulatory Reform Conference Address Insurance Office Today (6/15/2010)
North Carolina: Workers’ Comp Symposium Scheduled for August (6/15/2010)
New Jersey: NAMIC Raises Concerns About Reinsurance Collateral Reduction, But Bill Advances (6/15/2010)
The Beach House Bailout Proposal CBO Score Released (6/8/2010)
House, Senate Prep for Conference on Financial Regulatory Reform (6/1/2010)
NAMIC Outlines Outstanding Concerns to Senate Conferees (6/1/2010)
New Jersey: Bill Could Result in Reduction of Reinsurance Collateral (6/1/2010)
NAMIC: Congress Fails to Act, National Flood Insurance Program to Lapse (5/28/2010)
NAMIC Slows the Passage of ‘Beach House Bailout’ (5/25/2010)
NAMIC Pushes for Tax Fix for Small Companies (5/25/2010)
Insurance to be Addressed as Regulatory Reform Bill Moves to Conference (5/25/2010)
NAMIC Responds to Senate Passage of Wall St. Reform Bill (5/21/2010)
New York: Deductible Triggers Discussed at Legislative Roundtable on Coastal Issues (5/18/2010)
House Subcommittee Examines Role of Credit-Based Insurance Scoring (5/11/2010)
National Flood Insurance Program May See Reauthorization Through September 30 (5/11/2010)
Senate in Third Week of Debate over Regulatory Reform (5/11/2010)
NAMIC Weighs in on “Bank Tax” (5/11/2010)
Senate Finally Brings Financial Services Regulatory Reform Debate to the Floor (5/4/2010)
NAMIC Calls for More Focused ‘Responsibility Fee’ (5/4/2010)
Beach House Bailout Legislation Passes House Financial Services Committee (5/4/2010)
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